Latest Sweden News
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Swedish government sells 260 million shares in bank Nordea for $3 billion
STOCKHOLM - The Swedish government says it has raised 19.5 billion Swedish kronor ($3 billion) by almost halving its stake in Nordic banking group Nordea AB. The government Wednesday said the sale, which cut its holding from 13.4 per cent to 7 per cent, will be used to reduce the Swedish state debt. The shares were sold at 75 Swedish kronor ($11.6) each. The deal is in line with the ...
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Swedish Think Tank Sees Economic Recovery Starting Later This Year
By Charles Duxbury STOCKHOLM--Growth in the Swedish economy will pick up towards the end of this year amid a rise in domestic demand, particularly from households, Swedish think tank the National Institute of Economic Research said Wednesday. Economic output will increase by 1.5% this year and 2.5% next year, the NIER said in a report. That is more than the 1.3% and 2.3% it forecast in ...
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Conservative students disrupt bus strike
Stockholm bus traffic was at a standstill Wednesday as drivers and other staff launched a major strike at midnight, but a group of Conservative youths disrupted the action by replacing a bus route between two of the ...
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Tax bill for politicians ties to far-right site
Sweden Democrat MP Kent Ekeroth has to pay tax for money sent to his bank account as donations to two far-right websites that he claims to have nothing to do with ...
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Sweden to send 160 troops in Mali mission
Deputies adopted a proposal from the centre-right government, which said that in "normal circumstances" the Swedish contingent would be around 70. The Swedish military will also provide materiel to the UN mission. "Armed extremist groups and criminal groups have since the beginning of 2012 committed extensive acts of cruelty which have caused great human suffering in ...
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Strong Krona Weighs on Profit at HM
STOCKHOLM ...
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Sweden May Unemployment 417000
The following is a press release from Statistiska Centralbyran, or SCB, the Sweden central government authority for official statistics. STOCKHOLM--In May 2013 the number of employed persons aged 15-74 amounted to 4.67 million (34,000). Compared to May 2012, this is an increase of 51,000 persons. The employment rate was 65.3 ( 0.5)%. The number of employed women increased by 34,000 and ...
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Swedish Consumer Confidence Rises on Brighter Outlook for Economy
By Charles Duxbury STOCKHOLM--Swedish consumer and manufacturing confidence rose slightly in June amid a more upbeat outlook for the economy. The National Institute of Economic Research's consumer confidence indicator, or CCI, rose to 98.2 in June from 97.7 in May. "Consumers' assessment of the Swedish economy, both at present and 12 months ahead, was less negative than in ...
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HM Q2 Profit Falls Amid Stronger Krona Bad Weather
HEN.L ) Wednesday said profit in the second quarter declined from the prior year, hurt by negative currency impact and unfavourable weather. CEO Karl-Johan Persson said, ''This quarter has been marked by substantial negative currency translation effects, which have had a negative impact on both sales and profits in SEK.''Profit after tax fell to 4.66 billion Swedish kronor ...
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Top ten ways you know youve turned Swedish
For some foreigners living in Sweden, a natural "inner Swede" can develop that often doesn't show its face until you're back home again. The Local's Irishman Patrick Reilly lists the top ten ways this inner Swede can change your ...
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Extreme-right sites beat political party pages
The seven most popular far-right websites attract a total of 145,000 unique visitors a day, according to the report, which was prepared by the government-run Swedish Media Council and handed to the government on Tuesday. "I'm surprised to find out that (the sites) have seven times more visitors than the total of all parties in parliament," Ulf Dahlquist, the council's ...
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Sweden to sell risky 5.7-percent stake in Nordea
The sale of 230 million shares, worth 18.1 billion kronor ($2.8 billion) at Tuesday's market close in Stockholm, will take place on Wednesday. "The state's role is to regulate the banks, not to own them. Banking shares are risky assets," Minister for Financial ...
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SABMiller Swedish cider brands licensed
SABMiller and Sweden’s Kopparberg Brewery had entered into a co-operative agreement for the long-term licence of Kopparberg cider products in selected markets where the Swedish firm does not have an interest, SABMiller said yesterday. All Kopparberg cider products, including Pear and Naked Apple, would be available for distribution. The Australian unit was the first SABMiller operation to ...
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Sweden raises size of share sale in Nordea
STOCKHOLM, June 19 | Wed Jun 19, 2013 1:51am EDT STOCKHOLM, June 19 (Reuters) - The Swedish government said on Wednesday it was increasing its sale of shares in Nordea , the region's biggest bank, to 260 million ordinary shares from 230 million due to strong investor demand. The finance ministry said in a statement that the revised size of the sale was equivalent to 6.4 percent of ...
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Nordic countries team up in Chinas tech trade
/enpproperty--> Nordic countries have joined an international race to team up with China in exploring science and technology opportunities. "Countries with a tradition of innovation gradually take the lead in social and economic development, which in turn make them internationally competitive," said Huang Xing, China's ambassador to Finland. Information and communication ...
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United to play AIK in Sweden for pre-season
Manchester United will conclude the preparations for the defence of its Premier League crown with a pre-season match against Swedish side ...
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Kungsleden AB Kungsleden purchases two properties in Gothenburg
KGLED01.OL ) purchases two warehousing and office buildings in Hgsbo in the municipality of Gothenburg at a total price of around SEK 71.5 million including transaction costs. The initial direct yield is approximately 8.3 per cent. The two properties have a total lettable area of around 13,700 square meters and the rental value amounts to SEK 10.2 million. The biggest tenants are ...
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3i confirms departures of UK Nordic private equity heads
(Reuters) - British buyout firm 3i Group Plc (III.L), which is carrying out a major restructuring, confirmed on Tuesday that the head of its UK private equity operation has left and that his counterpart in the Nordic region plans to leave soon. ...
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Roberta Vinci Carla Suarez Navarro post Netherlands victories
Carla Suarez Navarro gained the quarterfinals Tuesday at the grass-court Topshelf Open. Vinci, who titled at s'Hertogenbosch in 2011, breezed into the second round with 6-3, 6-3 decision over Estonian Kaia Kanepi. She next faces last week's Nuremberg, Germany, titlist Simona Halep. Spain's Suarez Navarro, meanwhile, posted a second-round triumph over ...
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Pirate Bay co-founder faces extradition to Denmark Swedish court rules
Security The Pirate Bay co-founder Gottfrid Svartholm Warg can be extradited to Denmark, a Swedish court has ruled. There, he will face several new hacking charges for downloading a large number of files from a Danish police database. Sweden's Nacka District Court ruled on Monday that Swartholm Warg "may be extradited to Denmark in accordance with the warrant from Denmark and he ...
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Swedens far right beats mainstream parties in cyberspace
STOCKHOLM (AFP) - Extreme-right websites in Sweden are far more popular than websites run by parties represented in parliament, said a report presented to the government on Tuesday.The seven top far-right websites attract a total of 145,000 unique visitors a day, according to the report, which was prepared by the government-run Swedish Media Council."I'm surprised to find out that (the ...
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Sweden selling Nordea stake could raise $2.8 billion
, said it would sell up to 230 million ordinary shares in Nordea, worth some 18.1 billion Swedish crowns $2.8 billion (1.7 billion pounds) at current market prices, though such bloc sales are usually done at a discount.It will use the proceeds to reduce the national debt.On completion of the sale, Sweden's current 13.4 percent stake in Nordea - a legacy of the country's banking crisis ...
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Sweden to Cut Nordea Stake to 7.8 to Reduce National Debt
Nordea Bank AB (NDA) and use the proceeds to cut the Nordic nation's public debt. The government plans to reduce its stake in the Stockholm-based bank to 7.8 percent from 13.4 percent and will target Swedish and international institutional investors in an accelerated book building starting today, according to a statement. Based on today's closing price of 78.75 kronor, it would ...
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Nobel Prize winner for physics dies in Maine
SACO, Maine -- A physics professor who earned a Nobel prize for pioneering work that changed the way physicists think about phase transitions has died in Maine at age 77.Kenneth Wilson was in the physics department at Cornell University in Ithaca, N.Y., when he won the Nobel Prize in 1982 for applying his research in quantum physics to phase transitions, creating a mathematical tool called the ...
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Stora Enso in restructuring plan
Finnish paper and packaging company Stora Enso said on Tuesday it would shed 2,500 jobs, mostly in Finland and Sweden, citing a weak European economy and the company's poor profitability.The cuts were part of a restructuring plan announced in ...
Stockholm Feature
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Much thought put into new crematorium for Stockholm
A new crematorium being built on a famous UNESCO World Heritage Site had an imposing reputation to live up to, for it is being built in a woodland cemetery planted and designed by two of Sweden’s greatest architects.
Stockholm is a city renowned for developing beautiful buildings, the city is regarded as one of the most beautiful in the world with its historical architecture preserved and blended in with the modern, displaying the legacy and the current status of the city as the heart of what was once a kingdom and is now Sweden. It is no wonder then a new crematorium being built in the city will combine state-of-the-art design with seamless beauty. Read more
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